Because King is delivering a speech and report on financial
stability (full
material here) and in it he's delivering the hard truth to
Europe.

The crisis in
the euro area is one of solvency and not
liquidity. And the interconnectedness of major
banks means that banking systems, and hence economies, around the
world are all affected. Only the governments directly involved
can find a way out of the crisis. But here in the UK, we must try
to bolster the resilience of our financial system, better to
withstand the storms that may come in our direction.